NEWS

This section provides readers with the latest news regarding anti-corruption issues worldwide.

Corruption hunters – investigating and prosecuting financial crime

The video “Corruption hunters – investigating and prosecuting financial crime” is now available online. Watch experts discuss how the OECD Anti-Bribery Convention affects the fight against corruption in their countries and what the three main obstacles are that they face in investigating and prosecuting corruption. [field_txt_news_link]

Senegal: Nation adopts ECOWAS anti-corruption protocol

Senegalese MPs on Thursday unanimously adopted the protocol of the Economic Community of West African States on the fight against corruption, APA can report. “The Government of Senegal has the firm commitment to fight corruption. That is why we want to have national and international legal regulations provided for this purpose,” Minister of Foreign Affairs and Senegalese abroad, Mankeur Ndiaye said. The provisions of the ECOWAS protocol cover extradition, financial reporting, customs and immigration, computerized management and judicial process. [field_txt_news_link]

Kuwaiti slammed for sacking local anti-corruption group

Pressure is mounting on the Kuwaiti government to reinstall the country’s chapter of Transparency International (KTS), a global organization that aims to highlight corruption. [field_txt_news_link]

Corruption 101: The Dark Side Of Leadership

The World Bank estimates that globally more than $1 trillion is handed over annually to corrupt government officials, while the OECD’s 2014 Foreign Bribery Report shows a substantial increase in the the number of bribery cases brought annually around the world since the OED began monitoring these activities seriously in 1999. Of 427 cases identified last year, 53% involved corporate management or CEOs; 80 individuals received jail terms of up to 13 years; and another 38 were given suspended sentences. The largest individual fine was $149 million. [field_txt_news_link]

Burkina Faso: Suspended sentence for Burkina customs chief who hid millions

A former Burkina Faso customs chief under ousted president Blaise Compaore has been given a two-year suspended sentence after a relative was found with a suitcase stuffed with nearly three million euros ($3.4m mn) in cash. Osmane Guiro was found "guilty of corruption" involving sums of around 1.37 million euros, judge Jean-Emile Somda said late Saturday. The sentence, and the seizure of his property worth a similar amount, was well below that sought by prosecutors, who had asked for Guiro to be jailed for 10 years as well as the seizure of most of his possessions. [field_txt_news_link]

May 2015 news and analysis from NRGI

Latest news from the Natural Resource Governance Institute [field_txt_news_link]

The anti-bribery business

EVEN for a company with Walmart’s heft, $800m is a sizeable sum. That is what the giant retailer will have spent by the end of this fiscal year on its internal probe into alleged bribing of Mexican officials, into whether subsidiaries elsewhere may have been greasing palms and on related compliance improvements. By the time bribe-busters at America’s Department of Justice (DOJ) are done with their own investigation, which began in 2012, Walmart’s bill for lawyers’ and forensic accountants’ fees will be well above $1 billion—and perhaps closer to $2 billion. [field_txt_news_link]

Audit urges overhaul of Nigeria's state oil company; 'Missing' revenues

Nigeria's state oil company is assuming "carte blanche" and spending nearly half the proceeds from crude oil sales before they reach the treasury, according to a long-awaited audit into billions of dollars of allegedly "missing" oil revenues. The audit, carried out by PwC and published in full late on Monday on the orders of outgoing President Goodluck Jonathan, recommends an "urgent" overhaul of the way Nigeria manages its oil industry, which it describes as "unsustainable". [field_txt_news_link]

Kenya: Country kicks out top anti-corruption officials

Kenya's top anti-corruption officials were suspended Thursday following a bitter stand-off with parliament and after they alleged widespread graft in the east African nation. President Uhuru Kenyatta removed the chairman and deputy chairwoman of Kenya's Ethics and Anti-Corruption Commission (EACC) after MPs voted to sanction the pair, accusing them of incompetence and abuse of office. [field_txt_news_link]

Buhari Must Tackle Corruption If He Wants To Succeed

The World Bank has urged Nigeria’s president – elect, Mahammadu Buhari to tackle corruption in-order to make his administration a success. [field_txt_news_link]

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